宝城期货原油早报-20251022

1. Report Industry Investment Rating - There is no clear industry - wide investment rating provided in the report. 2. Report's Core View - The report believes that although the macro - bearish sentiment has weakened due to Trump's signal to ease tensions, the macro and industrial factors in the crude oil market remain weak. With OPEC+ increasing production and the "war premium" fading, the oil market supply pressure is increasing. However, the domestic crude oil futures 2512 contract may maintain a slightly stronger oscillation trend on Wednesday [5]. 3. Summary According to Relevant Contents Price and Trend - The domestic crude oil futures 2512 contract showed an oscillating and stabilizing trend on Tuesday night, with the futures price rising slightly by 0.64% to 439.0 yuan/barrel. It is expected to maintain an oscillating and slightly stronger trend on Wednesday [5]. Driving Factors - The macro - bearish sentiment has weakened as Trump released a signal to ease tensions. But the macro and industrial factors in the crude oil market are still in a weak pattern [5]. - Eight OPEC+ oil - producing countries decided to increase production by 137,000 barrels per day in November, increasing the supply pressure in the oil market [5]. - The geopolitical situation in the Middle East has shown signs of easing, and the "war premium" that previously supported oil prices has diminished [5].